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Citigroup Inc. v. Otto Candies, LLC, et al.
Paid petition · United States Court of Appeals for the Eleventh Circuit, No. 23-13152 · judgment May 8, 2025
Before the decision, roughly the 4.1% base rate. The model weighted this up for counsel who has won certiorari before, an Eleventh Circuit decision below, and a business petitioner, and down for a business respondent.
Question presented
In the Private Securities Litigation Reform Act (PSLRA), Congress barred plaintiffs from bringing claims under the Racketeer Influenced and Corrupt Organizations Act (RICO) based on conduct already covered by the federal securities laws. In particular, the PSLRA provides that “no person may rely upon any conduct that would have been actionable as fraud in the purchase or sale of securities” to establish a RICO violation. 18 U.S.C. § 1964(c). The question presented is whether the PSLRA bars a civil RICO claim based on conduct that is actionable as securities fraud by another potential plaintiff, even if the particular RICO plaintiff could not bring a securities-fraud claim. (I)
Counsel of record
For petitioner
Jeffrey B. Wall
Sullivan & Cromwell LLP
For respondent
Derek L. Shaffer
Quinn Emanuel Urquhart & Sullivan, LLP
Case
Conference history
Distributed for 1 conference
Amicus briefs
2 cert-stage
Proceedings
- Jan 12 2026Petition DENIED.
- Dec 23 2025DISTRIBUTED for Conference of 1/9/2026.
- Dec 19 2025Reply of petitioner Citigroup Inc. filed. (Distributed)
- Dec 03 2025Brief of respondents Otto Candies, LLC, et al. in opposition filed.
- Nov 03 2025Brief amicus curiae of Washington Legal Foundation filed.
- Nov 03 2025Brief amici curiae of Securities Industry, et al. filed.
- Oct 10 2025Motion to extend the time to file a response is granted and the time is extended to and including December 3, 2025.
- Oct 08 2025Motion to extend the time to file a response from November 3, 2025 to December 3, 2025, submitted to The Clerk.
- Sep 30 2025Petition for a writ of certiorari filed. (Response due November 3, 2025)